Kenon Holdings Ltd. (NYSE:KEN) Sees Large Drop in Short Interest

Kenon Holdings Ltd. (NYSE:KEN – Get Rating) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 61,000 shares, a decrease of 27.0% from the May 15th total of 83,600 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 55,400 shares, the short-interest ratio is presently 1.1 days.

Separately, StockNews.com started coverage on Kenon in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in Kenon by 65.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,360 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 538 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Kenon in the 1st quarter worth about $233,000. Acadian Asset Management LLC purchased a new position in shares of Kenon during the 1st quarter worth about $241,000. Citigroup Inc. grew its holdings in Kenon by 29.0% during the 1st quarter. Citigroup Inc. now owns 3,691 shares of the utilities provider’s stock valued at $250,000 after purchasing an additional 829 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kenon in the 4th quarter worth about $315,000. 11.95% of the stock is owned by institutional investors and hedge funds.

Shares of Kenon stock traded up $0.52 on Friday, hitting $52.60. 765 shares of the company traded hands, compared to its average volume of 48,849. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.69 and a current ratio of 6.69. The business has a 50-day simple moving average of $56.42 and a 200 day simple moving average of $55.51. Kenon has a 52 week low of $30.40 and a 52 week high of $72.90. The stock has a market capitalization of $2.83 billion, a P/E ratio of 2.02 and a beta of 1.50.

Kenon (NYSE:KEN – Get Rating) last released its quarterly earnings data on Thursday, March 31st. The utilities provider reported $7.28 EPS for the quarter. Kenon had a net margin of 267.63% and a return on equity of 61.18%. The business had revenue of $135.00 million during the quarter.

The firm also recently declared a dividend, which will be paid on Tuesday, July 5th. Investors of record on Monday, June 27th will be given a $10.25 dividend. The ex-dividend date of this dividend is Thursday, June 23rd. Kenon’s dividend payout ratio is presently 13.57%.

About Kenon (Get Rating)

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates in four segments: OPC Israel, CPV Group, ZIM, and Quantum. The company engages in the generation and supply of electricity and energy; development, construction, and management of renewable energy and conventional natural gas-fired power plants; manufacture of automobiles; and provision of container liner shipping services.

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